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Oil Tempered Spring Steel Wires Market : Key Players and Value Chain Analysis By 2025
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Springs made out of steel wires exhibit high yield strength by enduring significant bending or twisting moments and returning to their original position without deformation. Oil tempering process helps strengthen and harden metal wire by reducing its brittleness. Oil tempered steel wire is a cold drawn-heat treated wire, which withstands high pressure while maintaining the flexibility of the material.
The global oil tempered spring steel wires market is primarily driven by the increase in demand for oil tempered springs in the automotive industry. Production of oil tempered spring steel wires is directly proportional to the production of light, medium, and heavy commercial as well as passenger vehicles. Rise in demand for oil tempered spring steel wires for repeated dynamic (cyclic) loads such as engine valves, clutches, and auto suspensions is anticipated to drive the market.
Increase in per capita income and need of automobiles for convenience and luxury have boosted the automobile industry, consequently leading to an increase in demand for Oil Tempered Spring Steel Wires Market. Demand for oil tempered spring steel wires in heavy duty industrial machines has also increased owing to homogeneous mechanical properties and high impact resistance of these wires.
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Key players operating in the global oil tempered spring steel wires market include Bekaert, KISWIRE LTD., KOBE STEEL, LTD., Neturen Co., Ltd, Stahl- und Drahtwerk Röslau GmbH, Sumitomo (SEI) Steel Wire Corp., and Suzuki Garphyttan AB.
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